Alex Behring

A little bit of this encyclopedic knowledge of business that he has is something that, of course, we're nowhere near.

having here at the firm but we do try to emulate some of that around the stable of companies that we follow over a long period of time and the relationships that we build that's the other thing we learned from him he really sort of values these relationships he builds them oftenly when there's no

business to talk about.

And he's always respectful and mindful and great around that.

And I think those are the two things I took personally to heart from all these interactions with him.

Anything you'd add?

It's predicated first and foremostly on this desire to be a great place for the best talent.

And one of the things that we think is appealing to this sort of cohort of people is that go to a place where they know that there's a decent chance that someone is going to make a bet on them early, earlier than probably anywhere else.

Then, of course, just making a bet on them earlier than anywhere else is not good enough.

if they don't have a real chance of succeeding.

And the real chance of succeeding comes from surrounding them well when you make these bets.

For instance, as Dan said, when he was running Burger King, I was there as an executive chair for him.

I had done it before.

I was trying to help him everywhere, each and every way I could.

And also, we brought people on the team at Burger King that have been involved in prior

instances at the brewery and the railroad and other places in senior operating functions on sort of the same processes or things that we wanted to implement there.

So that sort of, that combination of things set you up for success.

Nothing guarantees your success and you have to be prepared, but some of these things will not succeed.

Some of these risky promotions won't succeed.

But you have to maximize the chances that they work.